Investment Advisory Board
The next meeting will take place on February 28, 2024.
At a minimum, regular quarterly meetings shall be held.
Rio Rancho City Hall, 3200 Civic Center Circle.
View agendas, minutes and video of meetings.
District 1: Van Billops
District 2: Vacant
District 3: Christopher Daniel
District 4: Ron Baker
District 5: Chandra McCray
District 6: Kelly Wainwright
At-Large: David Jablonski
The Board shall consist of seven members that are municipal residents. One member of the Board shall be appointed from each of the six (6) City Council Districts. One member shall be appointed at-large.
Knowledge or professional experience in public finance or public funds investing is desirable for Board members to possess.
Initial Board members shall be appointed in the following manner: One member shall serve a one-year term; three members shall serve a two-year term; and three members shall serve a three-year term. The designated initial term for each Board member shall be determined by lot and coordinated by the City Clerk. The term of appointment for all Board members subsequent to initial appointments shall be three years.
The Governing Body has determined that formal citizen input regarding the management of a voter-approved City Charter Permanent Fund and associated investment policy, as well as other local government investment portfolios and associated policy, is appropriate and advantageous.
The Governing Body formally established the Investment Advisory Board at its October 13, 2022 meeting.
Duties & Responsibilities
The Board’s duties and responsibilities regarding the City Charter Permanent Fund and other investment portfolios shall consist of only the following:
(A) Review applicable investment policies annually and provide input to the Governing Body regarding proposed amendments, if any.
(B) Beginning January 2024, and each January thereafter, provide input to the Governing Body regarding the general government purpose use of interest and dividend earnings that are fifty (50) percent above the prior year’s Permanent Fund principal amount.
(C) Beginning April 2024, and each April thereafter, provide input to the Governing Body regarding additional revenue contributions, if any, to the Permanent Fund principal amount.
(D) Review investment holdings reports.
(E) Review quarterly performance reports.
(F) Review investments for compliance with applicable policies.
(G) Review investment portfolio strategy, diversification, maturity, structure, and potential portfolio risks.
(H) Review the efficacy of internal controls and procedures over investments.
(I) Review any applicable compliance audits.
(J) Review the selection of any investment advisor, broker/dealer or other investment consultant.
(K) Adhere to any requirements outlined in applicable investment policies.